The Role of R&D in Agriculture and Related Industries An - - PowerPoint PPT Presentation

The Role of R&D in Agriculture and Related Industries – An Investor’s Perspective

Illinois ShowcaseTM Program

Eric Larson Linden LLC 24 September 2007

Confidential

2

A Skeptical View of Collaboration

You’ll find in no park or city A monument to a committee

• Victoria Pasternak

A committee is a group that keeps the minutes and loses hours.

• Milton Berle

Confidential

3

Illinois Global Partnership

• Mission: to promote and enhance international trade and

economic development for the state of Illinois

• A forum to:
• Inventory Illinois resources
• Develop a collective policy for unique strategic opportunities in:

Food and pharma Biofuels

• Promote innovation

Confidential

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Context

Founder and partner of Linden LLC, a private

investment company focused on building dynamic science-based companies

Incoming member of the Executive Advisory Board for

the National Center for Food Safety and Technology

Confidential

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Linden LLC

• Private investment firm focused exclusively on healthcare and

life science companies

• Organization comprised of both operating and financial

professionals

• Mature middle market businesses (annual revenues: $25 to

300 million)

• Primary strategic focus: non-core units of large corporations
• Owners, not investors
• Active governance model
• “Good to Great” transformation
• Technology accelerators

Re Re-

• position

position Mature Mature Businesses Businesses Linden Linden

Human and Financial Capital

Primary Focus Primary Focus

• f Corporate
• f Corporate

Strategies Strategies Venture Venture Growth Growth Mature Mature Decline Decline

Confidential

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National Center for Food Safety and Technology

Research consortium

• Enabling collaboration between industry and FDA scientists

Well established food safety capabilities

• Packaging technology
• Security of the nation’s food supply

New Initiative: Foods with Health Promoting Properties

• Establishing a new facility for nutritional clinical trials
• Develop substantiation for specific health claims
• Build consumer confidence & awareness for healthy food

choices

Confidential

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Nutrition - An Essential Aspect of Health

“Sick Care” vs. “Health Care”

• Sick Care = treatment / disease management
• Health Care = prevention of illness / wellness

Leading causes of death (CDC 2004)

• Diet related - 64% of deaths
• Lifestyle related - 71% of deaths

Foods with Health Promoting Properties

• New FDA designation

Confidential

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. . . .

Agriculture & Agriculture & Food Food

Interaction of food and health

Healthcare & Healthcare & Medicine Medicine Foods with Health Foods with Health Promoting Properties Promoting Properties

Confidential

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From paclitaxel to TaxolTM

Research efforts on many fronts in the battle against

breast cancer

• Plant extract - US Department of Agriculture
• Screening - National Cancer Institute
• Synthesis - Florida State University and Virginia Tech
• Production - Bristol-Myers Squibb

Confidential

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A Hopeful View of the Role of R&D

“Research is the pacemaker of technological progress.”

• Vannevar Bush
• Illinois Global Partnership
• Mission: to promote and enhance international trade and economic

development for the state of Illinois

Confidential

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Source: Centers for Disease Control and Prevention, 2004

The Leading Causes of Death in the US

Confidential

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Linden’s operating philosophy

Mission Linden’s mission is to build dynamic science-based businesses with strong growth and value creation potential. We accomplish our mission by forming relationships with executives and directing a unique set of resources and people to achieve superb investment results. Values

1.

Integrity and respect govern everything we do.

2.

Trust is the foundation for every one of our relationships. We develop trust by our actions.

3.

We work as a team, sharing recognition, communicating clearly and

• penly.

4.

We strive for a balance of operating and financial expertise within our

• rganization and embrace the diversity that this brings.

5.

As owners, we are both results-oriented and patient. We focus on specific programs to add value to the companies in which we invest.

6.

We strive for our work to be meaningful and enjoyable.